Karen, from Irvine, California, called into The Ramsey Show to seek advice about her living situation. She is newly divorced with full custody of two teenagers and currently pays $8,000 in rent on a $5,600 income.
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Dave Ramsey, famed for his financial expertise, asked Karen what she got from the divorce.
“We sold the house,” Karen says. “So, in a bank, in a high-yield savings account right now, I have about $1.3 million just sitting there. And I’m just trying to figure out what to do with it … I really don’t want to touch it. And then I’m getting some alimony/spousal support, but it’s only for six months, and that’s $15,000 a month.”
Karen said she has her car and credit card debts paid off but feels like she’s fighting an uphill battle trying to make ends meet in an area where the cost of living is so…
